Executive Director of Patriots for Advancement of Peace and Social Development, Dr. Sani Abdullahi Shinkafi has called for a comprehensive audit of the Nigerian power sector.
Responding to recent statements by the Minister of Power, Adebayo Adelabu, who suggested $10 billion is needed to ensure 24/7 electricity, Shinkafi, in a recent interview with ARISE NEWS on Thursday, stated, “Nigerians are tired of hearing stories, for the past 2 decades since the inception of our democracy in 1999, more than 2 trillion us dollars have been injected into the power sector, but the canker-worm, the cancer cell of corruption in the power sector have up till today have nothing to write home about.”
He advocated for “a forensic audit, forensic accounting” before any new investments are made to hold individuals accountable for diverted funds.
On the long-standing controversy over unaccounted funds in the Nigerian National Petroleum Corporation (NNPC), Shinkafi was unequivocal in his call for an investigation.
“The issue of NNPC probe is long overdue… the tax payers money they have been taking saying they will fix refineries, there is series of promises that Port Harcourt refinery will be functional, they are doing turnaround maintenance of Kaduna refinery, Warri refinery, yet nobody sees anything – we need a total forensic audit of NNPC’s accounts,” he asserted.
He added that Nigeria’s dependence on imported fuel and the mismanagement of local refineries have further worsened the economic burden on taxpayers.
Dr. Sani Abdullahi Shinkafi also highlighted pressing economic and security challenges in Nigeria, calling for urgent reforms and forensic audits. Shinkafi critiqued President Bola Ahmed Tinubu’s economic policies and called for unity among government officials to tackle insecurity.
Reflecting on President Tinubu’s recent trip to Saudi Arabia, Shinkafi dismissed the comparison made by the Saudi crown prince between Nigeria and Saudi Arabia, citing stark economic differences.
“Looking at the micro economic indicators in Nigeria, higher rate of unemployment, basic infrastructure, energy, you can’t compare the kingdom of Saudi Arabia with the Nigerian economy,” he said, describing Nigeria’s economic state as one of “stagnation and hardship.”
Shinkafi further urged the government to prioritise both short- and long-term economic reforms to alleviate the burden on Nigerian citizens.
“The Nigerian economy needs an urgent economic reforms intervention…because the suffering Nigerians are suffering, no doubt about it. There is no time to waste, no time to apportion blames,” he stated.
He acknowledged the challenging economic situation inherited by Tinubu’s administration, but added,
“He has campaigned to be the president of this country, he has no reason to complain, he has to accept the liability of being a president of Nigeria.”
When asked about tensions between Matawalle and Zamfara State Governor Dauda Lawal, Shinkafi criticised their lack of cooperation as detrimental to local security.
“They need to come together to fight this insecurity because it is eating every segment of the society in Zamfara state including the neighbouring states,” Shinkafi said, stressing the urgency of the situation.
“The issue of insecurity has brought Zamfara state to its knees, all the economic activities are at stagnation point, people cannot go to farm, there is poverty, hunger and disease.”
Regarding the economic policies under President Tinubu, Shinkafi acknowledged the inflationary effects of subsidy removal and the naira’s floating exchange rate, but clarified that these policies were partly inherited from the prior administration’s 2023 budget.
“The floating of the naira…also increased the economic hardship,” he stated, adding that while subsidy removal could be beneficial, “looking at the removal of subsidy skyrocket the inflation in the history of Nigeria for over 4 decades.”
Dr. Shinkafi urged the government to fulfil campaign promises and meet Nigerians’ high expectations.
“The government has to sit up and make sure that he fulfil his campaign promises,” he concluded, pressing for meaningful action on both economic stability and security.
Faridah Abdulkadiri
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